Ceredex Value Advisors LLC Sells 18,500 Shares of Agree Realty Co. (NYSE:ADC)

Ceredex Value Advisors LLC trimmed its stake in Agree Realty Co. (NYSE:ADC - Free Report) by 11.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 143,982 shares of the real estate investment trust's stock after selling 18,500 shares during the period. Ceredex Value Advisors LLC owned about 0.14% of Agree Realty worth $10,144,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Versant Capital Management Inc increased its position in shares of Agree Realty by 230.7% during the fourth quarter. Versant Capital Management Inc now owns 420 shares of the real estate investment trust's stock valued at $30,000 after purchasing an additional 293 shares during the period. Bernard Wealth Management Corp. bought a new position in shares of Agree Realty during the 4th quarter worth about $31,000. Headlands Technologies LLC boosted its position in shares of Agree Realty by 72.8% during the 4th quarter. Headlands Technologies LLC now owns 558 shares of the real estate investment trust's stock valued at $39,000 after acquiring an additional 235 shares in the last quarter. Financial Life Planners acquired a new stake in Agree Realty during the fourth quarter valued at approximately $44,000. Finally, MassMutual Private Wealth & Trust FSB raised its holdings in shares of Agree Realty by 34.4% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 898 shares of the real estate investment trust's stock worth $63,000 after buying an additional 230 shares in the last quarter. Institutional investors own 97.83% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ADC. Mizuho boosted their target price on shares of Agree Realty from $74.00 to $81.00 and gave the company a "neutral" rating in a research note on Thursday, April 3rd. UBS Group raised shares of Agree Realty from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $79.00 to $84.00 in a report on Monday, January 6th. Wells Fargo & Company boosted their target price on Agree Realty from $78.00 to $81.00 and gave the stock an "overweight" rating in a report on Monday, March 10th. Royal Bank of Canada reduced their price objective on Agree Realty from $79.00 to $78.00 and set an "outperform" rating on the stock in a research note on Thursday, February 13th. Finally, Barclays raised Agree Realty from an "underweight" rating to an "equal weight" rating and lifted their price target for the company from $74.00 to $75.00 in a report on Tuesday, March 4th. Five equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Agree Realty presently has an average rating of "Moderate Buy" and a consensus target price of $80.38.

Agree Realty Stock Performance

Shares of ADC traded up $0.08 during mid-day trading on Tuesday, reaching $78.80. The company's stock had a trading volume of 379,862 shares, compared to its average volume of 983,139. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.52. The stock has a market cap of $8.46 billion, a P/E ratio of 44.28, a PEG ratio of 2.88 and a beta of 0.55. Agree Realty Co. has a 1-year low of $56.32 and a 1-year high of $80.55. The business has a 50-day simple moving average of $74.80 and a two-hundred day simple moving average of $73.94.

Agree Realty (NYSE:ADC - Get Free Report) last released its quarterly earnings data on Tuesday, February 11th. The real estate investment trust reported $1.04 EPS for the quarter, beating the consensus estimate of $0.43 by $0.61. Agree Realty had a net margin of 30.66% and a return on equity of 3.70%. As a group, equities research analysts anticipate that Agree Realty Co. will post 4.27 earnings per share for the current fiscal year.

Agree Realty Increases Dividend

The company also recently declared a apr 25 dividend, which will be paid on Wednesday, May 14th. Investors of record on Wednesday, April 30th will be paid a $0.256 dividend. The ex-dividend date of this dividend is Wednesday, April 30th. This is an increase from Agree Realty's previous apr 25 dividend of $0.25. This represents a yield of 4.1%. Agree Realty's payout ratio is 172.47%.

Agree Realty Profile

Agree Realty Corporation is a publicly traded real estate investment trust that is RETHINKING RETAIL through the acquisition and development of properties net leased to industry-leading, omni-channel retail tenants. As of December 31, 2023, the Company owned and operated a portfolio of 2,135 properties, located in 49 states and containing approximately 44.2 million square feet of gross leasable area.